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Finance
Tax
How Tos
Quick and Easy Tax Estimator
Assessment year
AY-2010-2011
AY-2009-2010
AY-2008-2009
Income of individual as
*
Male
Female
Senior citizen
Gross Salary
*
Rs.
Gross salary includes salary, bonus, perquisites, compensation etc
Section 10 exemptions
Rs.
Allowances exempt under section 10 - are HRA, LTA, Medical, Telephone, Petrol etc
Sec 16 deductions
Rs.
Deductions under Section 16 are Professional Tax / Tax on Employment, Entertainment Allowance
Other sources income
Rs.
Income under other sources are Family pension, Interest income
Chapter VIA deductions
Rs.
All deductions from section 80C to 80U. This is a part of Form 16 where amount qualified for deduction under chapter VIA is shown under the heads like contribution to Statutory Provident Fund, Recognized Provident Fund, Medical Insurance Premium, LIC premium, Donations, Housing & educational loans etc.
Total Tax
Rs. 0
(includes income tax, education cess and surcharge)
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Compute Interest Payable
Assessment year
AY-2010-2011
AY-2009-2010
AY-2008-2009
Tax Assessed
Rs.
(Don't know? click
here
to find out.)
TDS if any
Rs.
Tax deduction at source by the employer. Check form 16
Tax payable after TDS
Rs.
0
Compute Interest Payable
Due date
31/07/2010
The due date for filing IT return is 31st July of every year
Filing Date
The date on which you plan to file your tax return
Advance Tax Paid
Date
Amount
1st qtr
15/09/2009
Rs.
For the first quarter provide the amount of advance tax paid on or before September 15th of the financial year immediately preceding the relevant assessment year.
2nd qtr
15/12/2009
Rs.
For the second quarter provide the amount of advance tax paid on or before December 15th of the financial year immediately preceding the relevant assessment year.
3rd qtr
15/03/2010
Rs.
For the third quarter provide the amount of advance tax paid on or before March 15th of the financial year immediately preceding the relevant assessment year.
Interest u/s 234A
Rs.
0
Interest 234(A) applies if you are filing the tax return after July 31, 2010
Interest u/s 234B
Rs.
0
Interest 234(B) apply if enough taxes have not been paid by March 15th, 2010
Interest u/s 234C
Rs.
0
Interest 234(C) apply if enough taxes have not been paid by March 15th, 2010
Total advance tax
Rs.
0
Total interest payable
Rs.
0
Total Tax Pay/Refund
Rs.
0
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How Much Do I Need To Retire?
Years to retire
*
How many years are left to your retirement? For example if you are 30 and you expect to retire at 55 you should enter 25.
Years in retirement
*
How many years of retirement you expect to live. For example you retire at 55 and expect to live till 75 then you should enter 20
Monthly retirement amount required
*
Rs.
Monthly expenses you need for a comfortable living (at present)
Inflation rate % p.a.
*
Average inflation rate; Last 10 years average inflation is close 6%.
Return rate % p.a.
Average return expected on your savings and investments is 1% higher than the Inflation rate.
Retirement corpus required today
Corpus required on retirement
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How Much Insurance I Need?
Current Expenses
*
Rs.
Total monthly expenses (including EMI, insurance premium etc)
Insurance Premium
Rs.
Monthly premium value. Calculate monthly premium.
EMI
Rs.
Equal monthly installments you pay on your loans
Proportion of Personal Expenses (%)
*
What percent of the net expenses you spend on yourself? For example if the net expenses is Rs 30,000 and your personal expenses is 18,000 and 12,000 is spent on your dependents enter 60%
Age of Dependent
*
Current age of your dependent
Expected Inflation % p.a.
*
Expected inflation rate; Last 10 years average inflation is close 6%.
Expected Returns % p.a. (scenario 1)
*
The annual rate of return you expect on your savings and investments. You can try giving 2 different values for estimated return 1 and 2
Expected Returns % p.a. (scenario 2)
The annual rate of return you expect on your savings and investments. You can try giving 2 different values for estimated return 1 and 2
Net Expenses
Rs.
Total monthly net expenses (Excluding EMI, insurance premium)
Personal Expenses (
20
% of Net Expenses)
Rs.
Monthly personal expenses value based on the Proportion of Personal Expenses (%).
Annual Expenses
Rs.
Total annual expenses ((Net Expenses - Personal Expenses) * 12)
No. of Years
No. of years left for the dependent considering a life expectancy of 85 years.
Expense Protection (scenario 1)
Expense Protection (scenario 2)
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Human Life Value Calculator
Current Income
*
Rs.
Your current annual income from all sources
Expected Income Growth % p.a.
*
What is the average increment you expect on an annual basis?
Estimated Returns % p.a. (scenario 1)
*
The annual rate of return you expect on your savings and investments. You can try giving 2 different values for estimated return 1 and 2
Estimated Returns % p.a. (scenario 2)
The annual rate of return you expect on your savings and investments. You can try giving 2 different values for estimated return 1 and 2
Years till retirement
*
How many years are left to your retirement? For example if you are 30 and you expect to retire at 55 you should enter 25.
Human Life Value (scenario 1)
Human Life Value (scenario 2)
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Savings To Become Crorepati
Goal Amount
*
Rs.
Enter the value if goal amount is different.
Current Savings
Rs.
Enter the current savings.
Years to Achieve
Number of years you intend to save.
Months to Achieve
Number of months you intend to save.
Expected Rate of Return % p.a.
*
Annual return you expect.
You need to save
per month
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Time To Become Crorepati
Goal Amount
*
Rs.
Enter the value if goal amount is different.
Current Savings
Rs.
Enter the current savings.
Monthly Savings
*
Rs.
Monthly savings you plan to make.
Expected Rate of Return % p.a.
*
Annual return you expect.
You need to save for
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Best Tax Saving MFs for 2010
Tax Planning for 2010
Investment Planning for 2010
Insurance Planning for 2010
View a
sample
Financial Plan!
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